Gentex Amends VOXX Stake: Ownership Change Noted Jan 5

TL;DR

**Gentex just updated its VOXX stake, signaling a change in their investment.**

AI Summary

Gentex Corporation, a Michigan-based automotive parts manufacturer, filed an amended Schedule 13D on January 9, 2024, indicating a change in its beneficial ownership of VOXX International Corp's Class A Common Stock. This filing, an amendment to a previous Schedule 13D, was triggered by an event on January 5, 2024. While the specific nature of the change isn't detailed in this excerpt, it signals that Gentex's stake in VOXX has been altered, which could impact VOXX's stock price due to potential shifts in control or investment strategy.

Why It Matters

This filing signals a change in a significant investor's position, which can influence market perception and potentially the future direction of VOXX International Corp.

Risk Assessment

Risk Level: medium — The filing indicates a change in ownership, which could lead to volatility if the change is significant or signals a shift in investor sentiment.

Analyst Insight

Investors should monitor subsequent filings or news from Gentex or VOXX to understand the specific nature and implications of this ownership change, as this filing only indicates an amendment without detailing the change itself.

Key Players & Entities

• Gentex Corporation (company) — the filer and beneficial owner
• VOXX International Corp (company) — the issuer of the securities
• Steve Downing (person) — Chief Executive Officer of Gentex Corporation
• $0.01 (dollar_amount) — par value of Class A Common Stock
• January 5, 2024 (date) — date of event requiring the filing
• January 9, 2024 (date) — date of filing

FAQ

Key Financial Figures

• $0.01 — Name of Issuer) Class A Common Stock, $0.01 par value (Title of Class of Securiti
• $15,687,500 — reference. Gentex used approximately $15,687,500 from its working capital to purchase th
• $10 — the " Tranche 1 Shares ") at a price of $10 per share, and (2) on January 5, 2024 (

Filing Documents

• sc13d-voxxx010924.htm (SC 13D/A) — 53KB
• 0000355811-24-000003.txt ( ) — 54KB

Security and Issuer

Item 1. Security and Issuer This Schedule 13D amendment (this " Schedule 13D ") relates to the Class A Common Stock, $0.01 par value (" Class A Common Stock "), of Voxx International Corporation, a Delaware corporation (the " Issuer "). The Issuer's principal executive offices are located at 2351 J Lawson Blvd., Orlando, Florida 32824.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration

of the Initial 13D is hereby amended and restated as set forth below

Item 3 of the Initial 13D is hereby amended and restated as set forth below The disclosure in Item 4 below is incorporated herein by reference. Gentex used approximately $15,687,500 from its working capital to purchase the Tranche 1 Shares (as defined below) on October 6, 2023 and approximately $15,687,500 from its working capital to purchase the Tranche 2 Shares (as defined below) on January 5, 2024 as described herein.

Purpose of Transaction

Item 4. Purpose of Transaction

of the Initial 13D is hereby amended and restated as set forth below

Item 4 of the Initial 13D is hereby amended and restated as set forth below On October 6, 2023, Gentex entered into the Stock Purchase Agreement (the " Stock Purchase Agreement ") with Avalon Park International LLC and Avalon Park Group Holding AG (together, the " Sellers ") pursuant to which Gentex agreed to acquire up to 3,137,500 shares of Class A Common Stock (the " Purchased Shares "). Gentex agreed to purchase the Purchased Shares in two tranches (1) on October 6, 2023 (the " Tranche 1 Settlement Date "), Gentex purchased 1,568,750 shares of Class A Common Stock (the " Tranche 1 Shares ") at a price of $10 per share, and (2) on January 5, 2024 (the " Tranche 2 Settlement Date "), Gentex purchased 1,568,750 shares of Class A Common Stock (the " Tranche 2 Shares ") at a price of $10 per share. Gentex purchased the Tranche 1 and Tranche 2 Shares for investment purposes. Other than (1) as described herein and (2) that Steve Downing, chief executive officer of Gentex, currently serves as a director of the Issuer, neither Gentex, nor any of the directors and executive officers identified on Schedule A to this Schedule 13D, has any current plans or proposals that relate to or would result in any of the matters listed in Items 4(a) to 4(j) of Schedule 13D, but Gentex will evaluate its options in the future. Gentex reserves the right to acquire additional securities of the Issuer, to dispose of such securities at any time, or to formulate other purposes, plans or proposals regarding the Issuer or any of its securities.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer

of the Initial 13D is hereby amended and restated as set forth below

Item 5 of the Initial 13D is hereby amended and restated as set forth below The information set forth in or incorporated by reference in Items 2, 3 and 4 of this Schedule 13D is incorporated by reference in its entirety into this Item 5. (a) See responses to Items 11 and 13 on the cover page of this Schedule 13D. (b) Gentex has sole power to vote and dispose of the securities of the Issuer held by it. (c) Other than as described herein, no transactions of Common Shares were effected by the Reporting Persons during the past 60 days. (d) Not applicable (e) Not applicable.

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer Gentex and the Sellers entered into the Stock Purchase Agreement in connection with the purchase by Gentex of the Purchased Shares. A description of the material terms of the Stock Purchase Agreement is set forth in Item 4 of this Schedule 13D, and a copy of the Stock Purchase Agreement is filed as Exhibit 1 to this Schedule 13D and incorporated herein by reference.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits Exhibit Description 1 Stock Purchase Agreement by and among Gentex Corporation, Avalon Park International LLC and Avalon Park Group Holding AG, dated as of October 4, 2023, as filed on October 11, 2023. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date January 9, 2024 Gentex Corporation By s Kevin C Nash Name Kevin C. Nash Title Chief Financial Officer Schedule A Name, business address, present principal occupation or employment and place of citizenship of the directors and executive officers of Gentex Corporation Executive Officers and Directors of Gentex The business address of each director and executive officer is co Gentex Corporation, 600 North Centennial Street, Zeeland, Michigan, 49464. Unless otherwise indicated, each director and executive officer is a citizen of the United States. NAME AND POSITION PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT Steve Downing Chief Executive Officer and Director President and Chief Executive Officer, Gentex Joseph Anderson Director Majority Owner, Chairman and Chief Executive Officer of TAG Holdings, LLC Leslie Brown Director Garth Deur Director Managing Director, Iroquois Ventures LLC Gary Goode Director Chairman, Titan Distribution LLC Richard Schaum Director General Manager, 3 rd Horizon Associates LLC Kathleen Starkoff Director President and Chief Executive Officer, Orange Star Consulting Brian Walker Director Partner – Strategic Operations, Huron Capital Dr. Ling Zang Director Professor, University of Utah Neil Boehm Chief Technology Officer and Vice President, Engineering Chief Technology Officer, and Vice President, Engineering Gentex Kevin Nash Chief Financial Officer, Treasurer and Vice President, Finance Chief Financial Officer, Treasurer and Vice Presiden

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View this SC 13D/A filing on SEC EDGAR